Enel acquires Brazil hydroelectric activities from Rede group for 168 mln eur.

(From AFX Europe (Focus))

MILAN (AFX) - Enel SpA said it has acquired hydroelectric plants with a capacity of 92 MW from Brazil's Rede Empresas de Energia Electrica SA for 464 mln real, or about 168 mln eur.

Enel is acquiring ten companies, which together own 20 mini-hydroelectric plants, with the possibility of buying another company owning two more plants with a 6 MW capacity by next March, it said.

The acquisition of the initial 92 MW will contribute 27 mln eur in EBITDA in 2007, it said, adding that the acquisition is subject to the approval of the ...